April 07, 2014

Work on Victoria City shopping mall in Bucharest to start mid-year

Work on Victoria City shopping mall in Bucharest to start mid-year

Canadian real estate developer Benevo will begin building Victoria City shopping center in Bucharest mid way through the year, the company announced, with the grand opening scheduled for September 2015.

The company had previously said the 60,000 sqm GLA shopping center and office project in North West Bucharest, directly next to the Jiului metro station, would start in the first half of the year.

The Victoria City shopping center, which is being leased by Colliers International, will be anchored by a Cora hypermarket, will house major fashion brands such as H&M, C&A, Mango, and Deichman and a eight screen Cine Grand cinema.

Benevo is now starting to lease phase 2 of Victoria City, a 16,500sqm GLA office tower which will include an additional 3,000 sqm of retail GLA connected to the mall, including a gym, and will house 2000 office workers.

Delivery of Victoria City Tower is scheduled for the first half of 2016. Benevo have appointed The Advisers Knight Frank as their exclusive agent for Victoria City Tower.

In addition to Victoria City, Benevo continues to grow their development pipeline, they have recently agreed to purchase further prime retail land in Romania and Ukraine, bringing a total development pipeline to 360,000sqm of retail and office GLA.

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